Allowed

Icici Bank Limited v. Niranjan Chowdary

DRT26 Mar 2024OA/809/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application filed under the RDB Act, 1993. The court held that the evidence affidavit and documents established the defendants' joint and several liability. The application was allowed with directions to issue a recovery certificate.

What did the court decide?

Defendants jointly and severally liable to pay Rs.24,09,124.06 + interest; direction to issue Recovery Certificate.

Icici Bank Limited versus Niranjan Chowdary — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II AT HYDERABAD

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DATED THIS THE 26th DAY OF I4ARCH, 2024

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PRESENT: SH. RAMESHWAR KOTHE, B.Com, L.L.B. (Hons.), M.A.

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PRESIDING OFFICER

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ORIGINAL APPLICATION No, 8O9 OF 2022

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ICICI Bank Limited Ananthapur Rep by its Authorised Signatory and Power of Attorney Holder.

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...........Applicant.

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Versus

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Ivl N iranjan Chowdary S/o. Manda Ram l4ohan Chowdary

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Aged : Major, Occ: Farmer, H.No.10, Ganganapa lli ViallgeNarpala lvla ndal, Anantapur-515425.

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Ma nda Leelavathi

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Wo.^{Manda Ram lYohan} Chowdary, Aged : Major, Occ: Farmer,

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H. No.10, Ganganapalli VillageNarpa la Mandal, Anantapur-515425. Defenda nts.

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Counsel for the Applicant : Mr. B. Praveen Kumar Defendants : Exparte.

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ORDER

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The Applicant Bank filed the present OA u/s.19 of the Recovery of Debts and Bankruptcy Act, 1993 for the recovery of a sum of Rs.24,09,lz4,O6ps jointly and severally from the defendants together with interest @24o/o p.a. monthly rests from 02.07 .2022 till the date of realisation along with cosB/AY(2a..\^ Lr/ ''r}.t^-

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oA.NO.809/2022

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Summons served on D1 & 2. They were set ex-parte on 13.02.2023 as called absent and no representation.

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The Applicant Bank examined N. Chandra Shekar, RegionalRelationship 14anager as AW-1 and marked 3 documents through him as Ex. A.1to Ex.A.3.

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Learned Counsel for the applicant bank reported orders may be passed on merits. Perused the material placed on record.

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The point that arises for consideration is:-

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Whether the Applicant Bank is entitled for the claim made in the OA against the Defendants?

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As stated supra, defendants remained ex-parte. The Evidence Affidavit coupled with the recitals in the documents viz., Exs. 41 to A.3 marked on behalf of the Applicant Bank clinches the claim of the Applicant Bank against the Defendants. Hence, I hold that the Defendants are jointly and severally liable to pay the OA claim to the Appllcant Bank with future interest and costs.

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In the result, the present Original Application No.809/2022 is allowed as under: -

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i) the defendants are jointly and severally liable to pay to the Applicant Bank a sum of Rs.24,09,124.06ps with future interest @11.90o/op.a. slmple from the date of application i.e.,04.70.2022 till the date of realization; /ffi"t

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oA.NO.809/2022

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ii) the applicant bank is also entitled to proceed against the person and properties of the defendants for realization of its dues; and

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iii) the applicant bank is entitled for the costs.

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The Applicant Bank is directed to file Cost Memo within 2 weeks from the date of receipt of this Order.

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Issue Recovery Certificate accordingly.

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Communicate a copy of this order to the parties concerned. (Dictated to the steno, signed and pronounced by me in the open court on this the 26rh day of March, 2024).

¶33

PRESIDING OFFICER

Icici Bank Limited v. Niranjan Chowdary

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Niranjan Chowdary

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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